Is Xilinx, Inc. (XLNX) A Good Stock To Buy?

The 700+ hedge funds and money managers tracked by Insider Monkey have already compiled and submitted their 13F filings for the third quarter, which unveil their equity positions as of September 30. We went through these filings, fixed typos and other more significant errors and identified the changes in hedge fund positions. Our extensive review of these public filings is finally over, so this article is set to reveal the smart money sentiment towards Xilinx, Inc. (NASDAQ:XLNX).

Is Xilinx, Inc. (NASDAQ:XLNX) a good investment today? Money managers are getting less bullish. The number of bullish hedge fund positions dropped by 2 recently. At the end of this article we will also compare XLNX to other stocks including KeyCorp (NYSE:KEY), Laboratory Corp. of America Holdings (NYSE:LH), and Dr. Reddy’s Laboratories Limited (ADR) (NYSE:RDY) to get a better sense of its popularity.

To most shareholders, hedge funds are viewed as underperforming, outdated financial vehicles of years past. While there are more than 8000 funds in operation at the moment, Our researchers hone in on the masters of this club, around 700 funds. Most estimates calculate that this group of people shepherd the lion’s share of the hedge fund industry’s total capital, and by tailing their inimitable investments, Insider Monkey has unsheathed a few investment strategies that have historically outperformed the broader indices. Insider Monkey’s small-cap hedge fund strategy surpassed the S&P 500 index by 12 percentage points a year for a decade in their back tests.

Now, let’s take a peek at the new action encompassing Xilinx, Inc. (NASDAQ:XLNX).

What have hedge funds been doing with Xilinx, Inc. (NASDAQ:XLNX)?

At the end of the third quarter, a total of 23 of the hedge funds tracked by Insider Monkey held long positions in this stock, a change of -8% from one quarter earlier. With hedge funds’ sentiment swirling, there exists a select group of key hedge fund managers who were boosting their holdings considerably (or already accumulated large positions).

According to Insider Monkey’s hedge fund database, Clifton S. Robbins’ Blue Harbour Group has the most valuable position in Xilinx, Inc. (NASDAQ:XLNX), worth close to $293.1 million, corresponding to 9.1% of its total 13F portfolio. The second most bullish fund manager is Alkeon Capital Management, managed by Panayotis Takis Sparaggis, which holds a $76.6 million position; the fund has 1.6% of its 13F portfolio invested in the stock. Remaining members of the smart money that hold long positions contain Cliff Asness’ AQR Capital Management, Jim Simons’ Renaissance Technologies and David Harding’s Winton Capital Management.